Malaysian Index Turns Green as Retail Sales Rise; HE Group's Shares Rise 4%

MT Newswires Live

Aug 12

Malaysian shares erase losses to end in the green zone midweek, after positive retail sales data.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 10.15 points to end 0.6% higher at 1,741.61.

Malaysia's retail trade sales increased 6.6% year over year to 72 billion Malaysian ringgit in June, according to data from the Department of Statistics Malaysia (DOSM) released on Wednesday. The growth pace was slower than the 7.2% expansion recorded in the previous month.

In corporate news, shares of HE Group (KLSE:HEGROUP) gained over 4% on close after its unit Hexatech Engineering secured a letter of intent worth about 47 million ringgit to undertake electrical works for a data center in Johor, Malaysia.

Shares of NEXG (KLSE:NEXG) gained about 2% on close after its unit Datasonic Global Technologies signed three memorandums of collaboration to pursue secure ID business in Bangladesh, Mauritius and Pakistan. The MOCs were signed with Galaxy Technology (Bangladesh), D3N, and Ultra Electronics Pakistan.

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The growth pace was slower than the 7.2% expansion recorded in the previous month.</p><p>In corporate news, shares of HE Group (KLSE:HEGROUP) gained over 4% on close after its unit Hexatech Engineering secured a letter of intent worth about 47 million ringgit to undertake electrical works for a data center in Johor, Malaysia.</p><p>Shares of NEXG (KLSE:NEXG) gained about 2% on close after its unit Datasonic Global Technologies signed three memorandums of collaboration to pursue secure ID business in Bangladesh, Mauritius and Pakistan. 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